ISLAMABAD: In the first quarter of the current financial year, Pakistan secured $1.29bn in additional external financial assistance compared to the same period last year.
The Economic Affairs Division has issued a monthly report detailing the loans and grants received from other countries.
According to the report, Pakistan received $3.5273 billion from abroad from July to September 2023. Out of this amount, $3.49 billion constitutes loans, and $34 million represents grants.
The report indicates that in the same period of the previous financial year, the country received financial assistance of $2.234 billion from overseas sources.
During the first quarter of the ongoing financial year, the Economic Affairs Division reported that $2.65 billion was received for budget support and projects, with an additional $874 million received in project aid.
Furthermore, the report notes that Saudi Arabia extended a loan of $2 billion to Pakistan in the form of time deposits, while China’s National Aero Technology Corporation provided $500 million for the Pakistan Air Force.
Various international financial institutions supplied Pakistan with a loan totaling $490 million, and the country received $324 million from various nations.
The report highlights that overseas Pakistanis invested $204.5 million in Naya Pakistan Certificates. Additionally, in September 2023, Pakistan received over $320 million in external financial assistance.
It’s worth noting that this assistance is in addition to the first tranche of $1.2 billion received from the IMF in the first quarter of the fiscal year.
The report reveals that Pakistan anticipates receiving more than $17.38 billion in external financial assistance in the current financial year.
